Argus Metals Corp.

Argus Metals Corp.

May 30, 2011 08:30 ET

Argus Kicks Off Summer 2011 Exploration at Hyland Gold Project, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 30, 2011) - Argus Metals Corp. (TSX VENTURE:AML) (the "Company" or "Argus"), announces the mobilization of the Quartz Lake Exploration Camp at the Hyland Gold Project in the Yukon in preparation for the 2011 exploration program which will include:

  • >4000m of Diamond Drilling on 6 discrete target will start in mid-June,
  • the historic "Main Zone" oxide deposit,
  • the newly discovered "Sulphide Feeder Zone",
  • 3 "gold in soil" anomaly targets, and,
  • the "Carbonate Cap Zone"
  • Mapping, and stream and soil sampling on the Hyland Gold, IKE and TINA Projects will commence in early June.
  • A 21 line kilometre infiniTEM survey to define southern extension of the "Sulphide Feeder Zone" will commence mid-June.

The Hyland Gold Project exploration camp has been opened and expanded to support the 2011 summer Hyland and Hyland District mineral exploration projects. A diamond drill rig, bulk items and 500 barrels of diesel and JetB fuel were mobilized into the Hyland Gold Project by winter road in March.

Geological teams have been contracted to effect regional exploration on the north and south of the Hyland Gold Project (over 24 km trend of the Quartz Lake Fault as well as conducting regional exploration on the IKE and TINA Projects. The infiniTEM survey will target sulphide mineralization from the southern ends of the Sulphide Feeder Zone, through the Carbonate Cap Zone and into the CUZ Zone soil anomaly.

President Michael Collins comments, "The 2010 exploration program demonstrated that the Hyland project hosts significant sulphide gold mineralization. In 2011 Argus intends to show this potential extends to the length of the 24km long Quartz Lake Fault and to at least the 6 defined gold exploration targets. Regionally, Argus has staked 2 Selwyn Basin targets that hold the potential to host gold mineralization similar to the Hyland Gold and ATAC's Rackla Belt Projects."

Paul D. Gray, P.Geo. is the Company's Qualified Person with respect to the Companies Yukon Projects and has reviewed and approved this press release.

Please join us at one of the upcoming Cambridge House Vancouver Resource Investment Conference to receive a complete update on the Company's exciting exploration plans for 2011.

Cambridge House Vancouver Resource Investment Conference

Dates: June 5th & 6th, 2011
Booth: 1020
Location: Convention Center West, Vancouver, BC


Michael Collins, President and CEO

We seek safe harbour.

Certain statements set out in this News Release constitute forward-looking statements. Forward-looking statements (i) are often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate", or "will", and similar expressions; (ii) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties, or upon the opinions, expectations and estimates of management of the Company as at the date the statements are made; (iii) are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements, including, but are not limited to risks, uncertainties and other factors that are beyond the control of the Company, risks associated with the industry in general, commodity prices and exchange rate changes, operational risks associated with exploration, development and production operations, delays or changes in plans, risks associated with the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. In particular, there is no assurance that (i) mineralization on the company's Yukon projects will be as projected; (ii) the 2011 work program will proceed as projected, or that any positive results will result from such program. Although the Company believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of the Company contained in this press release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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